What is a hardship letter? This is a kind of letter written for mortgage companies. This is specifically made as a form of workout for due payments. Hardship letters usually work with collection agencies in cases of accepting partial payments or getting lower percentage of payment. It can also function as an apology for delayed payments. What does a hardship letter contain? Its usual content chiefly includes an explanation as to why payments cannot be continued. The most common explanation is not being able to pay due to loss of job or illness.

Writing a hardship letter is quite easy. However, before starting to write one, it is crucial to make a list of things that you would want to say. Make sure that you separate feelings from facts. Always see to it that you arrange the events that led to payment failure in chronological order. After doing so, start by writing your name, address, Mortgage Company, and loan number at the very top of the document. Then, create a brief and straight to the point opening statement. After making your opening statement, make a short and brief narration of your financial difficulties as well as a way of coping up your hardships. Finally, you should provide an oath of truth, which is followed b y your signature. If you have a co –borrower you could also include his/her signature below yours. One last thing to put in mind when writing a hardship letter is by making it a presentable document.

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